Gold Reaches All-Time High

Gold has surged to a new all-time high, surpassing $3,025 per ounce, marking an increase of over 15% since the beginning of the year. In contrast, Bitcoin (BTC) has trailed behind, down 10% year-to-date.

Factors Contributing to Gold’s Rally

Several factors have contributed to this rally, including:
– Significant inflows into gold ETFs.
– Gold’s traditional role as a safe-haven asset during geopolitical uncertainty.

Discussions of new tariffs in the U.S. under President Trump have also fueled demand for U.S. equities, benefiting gold.

Gold’s price has increased 40% year-over-year, significantly outperforming Bitcoin’s 16% gain.

Historical Trends

Historically, during a gold bull market, Bitcoin often stagnates or declines. The two assets rarely move in tandem, though there are periods where both rise or fall together.

Key Periods

• Between 2019 and Q3 2020, gold rallied strongly while Bitcoin remained flat, coinciding with the COVID-19 pandemic.
• In 2021, Bitcoin saw its bull run while gold stagnated.
• By 2022, both assets faced pressure as global interest rates rose before rebounding in 2023 and 2024.
• Now, in 2025, a renewed divergence between gold and Bitcoin is apparent.

Expert Insights

ByteTree founder Charlie Morris described the gold rally as a ‘proper gold rush’—akin to market movements not seen since 2011. He noted:

> “Gold above $3,000, silver above $24, and gold stocks gaining momentum—it struck me that the crypto crowd has never witnessed a true gold rush. The last time this happened was in 2011, when Bitcoin was just emerging at $20. They will now.”

Gold vs BTC past 5 years (TradingView)